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plus--comprehensive pros and cons with an overview of
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What
some of our customers are saying...
From Kimberly in MO
I
can't believe how amazing you are-- this is
nightmare paperwork --I would've NEVER been able to
do this-- Thank You again so very much
From Chrissy in OH
You
rock!! Thanks so much for your help. I wasn't sure
what to expect doing this myself but you have been
great!!!
From Roger in MI
you
did a SMASHING job of reading what I wrote and
turning it into this very organized and beautifully
written petition--Thank You
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Learn to file bankruptcy do
it yourself or without an attorney in the northern,
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attorney in San Francisco, San Jose, Santa Barbara,
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in Stockbridge, Stone Mountain, Sugar Hill, Suwanee,
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Whitesburg, Winder, Woodstock.. Hawaii HI: Honolulu,
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Illinois IL: Champaign-Urbana, Chicago, Moline, Aurora,
Rockford, Do it yourself bankruptcy in Naperville,
Elgin, Joliet, Peoria, Springfield Indiana IN: Angola,
Bloomington, Etna Green, Evansville, Fort Wayne,
Indianapolis, South Bend, Terre Haute Iowa IA: Cedar
Rapids, Des Moines, Iowa City Kansas KS: Kansas City,
Topeka, Wichita Kentucky KY: Lexington, Louisville,
Bowling Green, Campbellsville, File bankruptcy without
an attorney in Danville, Elizabethtown, Frankfort, File
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Henderson, Hopkinsville, Mount Sterling, Owensboro
Paducah, Prospect, Do it yourself bankruptcy in
Radcliff, Winchester Louisiana LA: Baton Rouge, New
Orleans, Shreveport Maine ME: Bangor, Kennebunkport,
Portland Maryland File Chapter 7 without attorneys MD:
Annapolis, Baltimore Massachusetts MA: Amherst, Boston,
Cambridge, Springfield, File bankruptcy without an
attorney in Worcester Michigan MI: Ann Arbor, Detroit,
Kalamazoo, Lansing, Traverse City, Ypsilanti, Brighton,
Battle Creek, Marshall, Albion, Bay City, Benton Harbor,
File Chapter 7 without attorneys St. Joseph, Niles, Big
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Wyoming, Kentwood, Holland, Grand Haven, File bankruptcy
without an attorney in Houghton, Jackson, Portage, East
Lansing, Marquette, Ishpeming, Midland, Monroe, Do it
yourself bankruptcy in Mount Pleasant, Muskegon, Norton
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Livonia, Mears, Mount Morris, Ortonville, Oxford,
Pontiac, Sandusky, Warren, Waterford Minnesota MN:
Duluth, Mankato, Minneapolis, File bankruptcy without an
attorney in St. Paul, Rochester Mississippi MS: Biloxi,
Jackson Missouri MO: Branson, Kansas City, St. Louis
Montana MT: Billings, Butte Nebraska NE: Lincoln, Omaha
Nevada NV: Las Vegas, File Chapter 7 without attorneys
Reno New Hampshire NH: Concord, Hanover, Manchester,
Portsouth New Jersey NJ: Princeton, Newark, File
bankruptcy without an attorney in Trenton New Mexico NM:
Albuquerque, Las Cruces, Los Alamos, Santa Fe New York
NY: Albany, Buffalo, Ithaca, New York City, Niagara
Falls, Rochester, Syracuse North Carolina NC: Chapel
Hill, Charlotte, Durham, Fayetteville, Greensboro, King,
Raleigh, Winston-Salem North Dakota ND: Fargo, Grand
Forks Ohio OH: Cincinnati, File bankruptcy without an
attorney in Cleveland, Columbus, Dayton, Lima, Toledo,
Wheeling Oklahoma OK: Oklahoma City, Tulsa Oregon OR:
Ashland, Eugene, Portland, File Chapter 7 without
attorneys Salem Pennsylvania PA: Bethlehem, Erie,
Harrisburg, Hershey, Do it yourself bankruptcy in
Philadelphia, Pittsburgh, Scranton, State College, York,
Lancaster Rhode Island RI: Charleston, Newport,
Providence South Carolina SC: Charleston, Columbia,
Greenville, Myrtle Beach, Rock Hill, Augusta, Florence,
File bankruptcy without an attorney in Sumter, Hilton
Head Island, Spartanburg South Dakota SD: Pierre, Sioux
Falls Tennessee TN: Chattanooga, File Chapter 7 without
attorneys Gatlinburg, Knoxville, Memphis, Nashville,
Pigeon Forge Texas Do it yourself bankruptcy in TX:
Amarillo, Austin, College Station, Corpus Christi,
Dallas/Ft. Worth, El Paso, Galveston, Houston, San
Antonio Utah UT: Ogden, File Chapter 7 without attorneys
Salt Lake City Vermont File bankruptcy without an
attorney in VT: Burlington, Montpelier Virginia VA:
Alexandria, Lynchburg, Norfolk, Richmond, Virginia
Beach, Williamsburg Do it yourself bankruptcy in
Washington File bankruptcy without an attorney in WA:
Olympia, Seattle, Spokane, Tacoma West Virginia WV:
Charleston, File Chapter 7 without attorneys Morgantown,
Wheeling Wisconsin WI: Madison, Milwaukee Wyoming WY:
Cody, Yellowstone
I
can't believe how amazing you are-- this is
nightmare paperwork --I would've NEVER been able to
do this-- Thank You again so very much!
From Vivian in CA
Last Tuesday, I went for my appointment with the
Creditors. After waiting for approximately
35 minutes, the interview took only about 5
minutes. The Judge was very cordial. None of
the Creditors were present. It was not stressful, as I had anticipated. There were
many people there for the same reason as
me, so that gave me a level of comfort to
know that I am not alone in this critical
financial situation.
From Clarence in FL
My first
and last meeting with
the creditors went
great! (August 5,
2011). No creditors
showed up to question me
and my discharge papers
are already on the way.
Having this out of the
way and done is such a
great feeling.
Thanks,
to all who helped.
From Roger in MI
you
did a SMASHING job of reading what I wrote and
turning it into this very organized and beautifully
written petition--Thank You
From Chrissy in OH
You
rock!! Thanks so much for your help. I wasn't sure
what to expect doing this myself but you have been
great!!!
We give you factual, comprehensive pros and cons
of bankruptcy with an overview
of bankruptcy procedures-- plus, true stories of
it's true affects and benefits.
If you choose, We even GIVE you
the resources, (Free
Forms and Manuals) that will allow you to
file completely on your own.
Free! Comprehensive Credit
Repair Manuals-
see
Free
Credit Repair.
Once your debts have been
discharged, it's time to
fix your credit! At the
conclusion of the process, we
then send you the most
comprehensive credit repair
manuals in existence.
WE MAKE THE PROCESS SIMPLE AND AFFORDABLE!
Our Motto is Simple...
A Solution You Can't Afford... Is Not a Solution!
If
you have any questions, please call Toll Free
877 604 6636 Extension 3
Please when calling reference Service ID [PERSONALID]
If you qualify for a
"Waiver of Court Fees"
your court fees would be waived.
(As part of our service, we prepare the "application for
waiver of fees" free of charge. If not
granted,
in most instances the court will allow you to pay their
fees
in 4 installments.
Because
We Want to Handle All Your Financial Needs...
We are much more than Bankruptcy Preparers. We handle a
myriad of services and issues, Bankruptcy,
Taxes,
Wills,
Credit Repair,
Home Sales,
Financial Opportunities, etc... in fact, we are
known as the No Down Home Purchase specialists
see No Down Purchases helping
people all across the US to buy homes with no down
regardless of credit, hence our phone number...
Toll Free 877 60
4 No Down
(877
604-6636) Ext 4
When calling, please
reference Service Code [PERSONALID]
AS A
COMPANY, BY CHARGING LESS WE ACTUALLY CREATE MORE BUSINESS!
We know that by
providing premium services at affordable prices in all
that we do; we will be your company of choice
for your future business and financial needs.
We don't want you
just as a customer for today, we want you, your
family, and friends as customers for life.
And quite
frankly, as pertains to bankruptcy... because, we
utilize the most up to date technologies and software,
we can accomplish in 5 hours what it might take others 5
days to accomplish.
Remember, it is our goal
to provide the options you need to solve your
issues.
If you need our services, we're here to
help. If you prefer to do it on your own, we'll
help there, too.
At The Solutions Network, we do more than prepare your
bankruptcy petition. We help prepare you for
Life After
Bankruptcy. The Complete Bankruptcy Package
gives you all of this...
Complete
Bankruptcy Document Preparation so you can get a
Financial Fresh Start-- We prepare all
schedules, including the Federal Bankruptcy Petition
plus, Schedules A, B, C, D, H, J, Statement of Financial
Affairs, and the "Petition
for Waiver of Fees", etc...
Tri-merged credit report-- we help you get a FREE
Tri-merged report, so you don't miss creditors.
A complete record of all debts you owe, credit cards,
car loans, real estate loans, collections, judgments,
tax liens, school loans, including balances, payment
amounts, creditors names and their addresses-- Saves you
hours in your debt investigation..
Remember,
if they are not listed in your Bankruptcy, you still owe
the debt!
Do It Your Self Credit Repair Kit-- see
credit repair.
By utilizing the techniques that we include in these 2
Creditor Busting Ebooks you will be able to immediately
begin to improve your credit rating and credit score,
in
spite of your bankruptcy.
Bankruptcy
Information Packet--Comprehensive,
but easy to understand information that shows how to
maximize the benefits of your bankruptcy by not only
eliminating
debts, but in some cases, reducing the amount of debt remaining on
that car or furniture on which you still owe money but
want to keep. In other words-- keep the car-- but
get rid of half the debt.
The
Truth is that Bankruptcy has it's
Benefits and it's Drawbacks--
but whether it is the right decision for
you depends on your particular
situation...
For
one family, Bankruptcy was the only way
to achieve
home ownership... For
another family, the failure to file, when truly
necessary, almost cost them everything. To see how and
why bankruptcy impacted these families' lives see
"Scenarios
1 & 2" Below
In
spite of an effective National Campaign by creditors,
that fact is...
life after bankruptcy is not as
difficult as often imagined or portrayed.
Even so, whether
or not to file Bankruptcy is one of the most difficult
decisions that a person makes in today's society.
Good decisions require
accurate information. The things that cause
people to come to a point in their life where Bankruptcy
becomes something to even be considered are many
varied. But at this point, we are not going to talk
about how we got to that place, but rather,
what to do about it-- and to
inform you of the true consequences.
We all know that bankruptcy is not
a good thing. It goes on your credit report and stays
there for 10 to 12 years, and yes, for a year or two, if
you apply for a loan, you will pay a higher interest
rate.
There's no
question, bankruptcy is not always the ideal
solution, but it is often the best solution--
and as we'll see, it also is not an economic death
sentence.
Because creditors
know that you can't file bankruptcy again for 8 years,
they know they have plenty of time to collect any new
debts that you may incur. What this means is you
can almost immediately, get the new financing on things
that are important i.e. credit cards, auto loans.
You can even get a new FHA home loan, 2 years after your
discharge. Again, it's not ideal but it is in now
way as bad as the financial industry would have you
believe.
Note:
Recently, there has been a lot of discussion about
credit improvement services.
Many companies are scams--
some are reputable. Credit restoration has it's
benefits and it's limitations. Often times the
effective dispute of derogatory credit can
eliminate the need for
bankruptcy and
allow you to pursue objectives you may have that are
almost impossible with the derogatories still on
your credit file or with a recent bankruptcy.
For a
comprehensive discussion of the benefits and
limitations of credit restoration,
click here.
There is no magic
formula that tells you whether bankruptcy is the best
choice for you-- but here a few facts to consider.
You
don't need bankruptcy
protection now if...
You have nothing that a creditor with a judgment
could take from you, in either assets or income:
that is, if everything you have is exempt under
the laws of your state, including your source of
income, you have nothing to lose to a creditor
and no need for bankruptcy protection now.
However, it's important to
realize that just because the creditor has
nothing to attach right
NOW,
that doesn't mean those debts can't come back to
haunt you in the future.
Is this just a temporary financial
glitch? Then you
might want to consider filing.
In the
future, are you
going to be substantially better off? New job?
Extra Income? More assets? Will you soon have your finances
in place?
If you file now, (while down in the dumps, so to
speak), you will undoubtedly be able to keep
everything and pass the federally
mandated means test (Don't
worry, we handle that for you)--plus...
As long as you don't create new bad debts
after filing... within two years you will be almost blemish free
with no outstanding collections, late pays, or
judgments. Your credit worthiness will then be
determined by your, then current, income and the credit track
record you create after the bankruptcy.
If you keep a clean slate, you will again
be considered a good credit risk.
WHAT IF YOU
DON'T
FILE?
If you DON'T FILE, and your
financial situation
improves? Obviously getting back on your feet is great
thing, but...
In Two Years you could be
faced with the following situation... You've
weathered the storm and now have great income;
you're
living the American Dream, have newly acquired
assets and Great Income, But you still have that
debt and those creditors...
If you had filed- You'd
have a two year old discharge, no
existing debts and re-established credit.
What if
you didn't file?-
Your income, assets
and finances may be great... but because you
didn't file, that can actually be a big roblem.
Because you
didn't file, you still have collections and judgments-- but
you also have an
higher income
that can
be attached.
Those still
existing creditors that you've forgotten all
about, can come after you again!
But now,
Bankruptcy may not be an option. Now that you are living the American
Dream... You may make too much money to pass the
means test! You would now have to pay back
old debts or face garnishments.
Want to buy a
home?-
Because you
didn't file, you still
have collections and charge offs owing that will prevent you from getting a
home loan until they are paid.
If, on the
other hand, you had filed, and your
bankruptcy is one to two years old and
all debt since then has been paid on time,
you will again be considered a good credit risk
and qualify for the best home loans available.
I
want to make something clear.
The above
the above scenario, nor those that follow are in
anyway intended to try to
convince you that you should or should not file bankruptcy.
That decision is absolutely yours and yours
alone. We just want to be certain that any
decision you make is based on a complete
understanding of facts and actual, rather than
imagined potential consequences.
The decision to file is intensely personal. It
is yours and yours alone. Whatever, decision
you make, be certain that is made with all the facts
in hand.
What I am
going to do here is not necessarily give you advice but
rather elaborate on a couple of scenarios that we have
had with clients while dealing with Bankruptcy, and
credit related facts-- also, what I suggested that they
do and the end result. Of course, how you proceed and
the decisions you make are yours and yours alone. My
goal is to simply help you proceed with a broader view
of what bankruptcy is. Hopefully, this article will
give you more relevant, real life facts to help you make
a fully informed decision--
See the following true life stories of past clients.
Inevitability.
Should You File Now? or
File Later?
Scenario 2
Is
doing the Right Thing
the Wrong Thing for
Your Family?
Do you own a home and are in danger of losing it? See
our article regarding alternatives and possible
solutions to
Foreclosure
Remember, you
rarely have to lose your home.
Even though, Bankruptcy should be a last resort, if all
else fails, a Chapter 13 will almost always allow you to
save your home.
I had a close
personal friend who came to me wanting to buy a home.
During the loan process we found that he had absolutely
impeccable credit. Unfortunately, his income was only
slightly more than his outgo, (as in about $100 per
month, and this was before food and utilities!),
. My first question to him was how are you managing to
make all your payments on time. I had never seen anyone
so overloaded with debt while making their payments so
flawlessly. He informed me that he was effectively
borrowing from Peter to pay Paul. Borrow from one
credit card to pay another, then open another credit
account to pay the last...
Under
these circumstances, there was no way that he could
qualify for a normal loan. He only wanted around an
$80,000 home, but even with the $8,000 down he was
getting from a settlement, he could not qualify for a
conventional low rate loan. His expenses vs income was
just too high.
As I
explained to him, with his income to debt ratios, he
would never be able to buy a house. At least, not
with a fixed rate or reasonable down payment. We
were going to have to get creative. I then
explained to him that with his situation-- Namely,
the fact that every month he was going further and
further into debt. His minimum payments on the
credit cards were getting larger and larger-- His
income was staying relatively stagnant. He was
unquestionably spiraling into the need for a
bankruptcy. The only real
question was would it be now or later?
Here's what we did. We used his $8,000 insurance
settlement for his down payment. I persuaded the seller
of the property to carry $12,000 for a term of 30
months. Now, that we only needed a loan for $60,000 on
an $80,000 home, We were able toget him a loan
secured by the property. It was not a good loan, but a
loan, nevertheless. This loan was fixed at 6%, but for
only two years. After that it would adjust to about
12%, thus increasing my friends payment by about $300
per month over the original payment.
Generally, I wouldn't negotiate
this deal for my worst enemy, but we had a strategy that
would insure that he would never have to pay that high
interest rate.
NOTE:If
a person files Bankruptcy and then from the date of
discharge, keeps any new or reaffirmed debts paid
perfectly, for most lenders, in two years, they will
be considered to again be a good credit risk.
We closed the deal, he now owned the home
and he then immediately filed
Bankruptcy. So he discharged his
unsecured debt, and reaffirmed his home and
car loan. (i.e. continued to make payments on home
and car).
NOTE:
There are now loan programs that will allow you to
get a home loan within 6 months
after bankruptcy or even one day with a substantial
down payment.
At the end of two years,
he had paid his remaining bills perfectly.
Additionally, because he had all of the unsecured debts
discharged, his monthly obligations were reduced by
about $600 per month. He now had good credit and
income to debt ratios that were reasonable, so he could
now refinance his home and get rid of that first
mortgage that was getting ready to go to 12%-- plus,
because his home had appreciated, we could even pay off
the $12,000 that he still owed the seller. Because his
finances were now in balance I was able to get him
approved for a refinance to do the above at a fixed 6%
interest rate loan.
Amazingly enough-- this was one of those rare situations
in which the only way to
accomplish the
goals of home ownership for himself and his family, was
by filing Bankruptcy!
Doing
the right thing is always admirable.
But it has been my experience that sometimes doing the
right thing for the creditors is absolutely the wrong
thing for your family...
I was recently contacted by a family that had been
struggling with debt for 3 years. Prior to the
beginning of their problems they had both had very good
jobs. As with most of us, good jobs equal good
lifestyle and lots of debt. Their income was such that
they were not overloaded in the least.... but then he
lost his job, the family income was halved for about
six months. They had some 30 day lates, but nothing too
serious. He finally found other employment-- just
about the time that she lost her job!... Over
the next three years, for both of them, employment was
sporadic. In their attempt to do the "right thing"
i.e. keep their home, pay their bills, even if late... they
drained not only their savings,
but raided their retirement accounts (Which
you can almost always keep when you file Bankruptcy),
To make
matters worse, dipping into retirement accounts, carried early
withdrawal penalties and extra tax liabilities, (we managed to avoid most of the
penalties on an
amended tax return), but the point is that they were
financially drowning.
At all costs, they were determined to avoid bankruptcy.
They wanted to do the right thing and pay their
creditors. They continued their spiral and sporadic
employment for three years.
This
was admirable and I respect them immensely for their
integrity. But now,
they have nothing left. Even their
retirement is gone! Their home was in foreclosure
and to keep the home, for themselves and daughter,
they finally decided to file a chapter 13
bankruptcy.
If they had filed two years
earlier, when the spiral was obviously out of
control...
They would now have good credit, they
would still have their retirement, and they would be
stress and debt free. As it stood, we saved their home, but
their retirement is forever lost and good credit is
a thing that will elude them for another two years.
In
my opinion, the moral of the story is, if you can fix
your finances, by all means, do so. But please, for
your and your families sake, make an honest and
objective assessment of your ability to pull out of the
financial morass.
If Bankruptcy is inevitable,
do it now, not after your retirement is gone.
